German PMI unexpectedly rose in February

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Tuesday, Feb 21 2017

German PMI unexpectedly rose in February

German private sector output growth accelerated in February, boosting the outlook for the health of the euro zone’s largest economy, according to data released on Tuesday. The preliminary reading of the Markit manufacturing purchasing managers’ index rose to a 69-month high of 57.0 this month from 56.4 in January. Economists had expected the index to tick down to 56.0.German service sector activity rose more-than-expected last month, official data showed on Tuesday. In a report, Markit Economics said that German Services PMI rose to 54.4, from 53.4 in the preceding month. Analysts had expected German Services PMI to rise to 53.6 last month.

Growth in French private sector output strengthened in February, easing concerns over the economic outlook of the euro zone’s second largest economy, according to data released on Tuesday. The preliminary reading of the Markit services purchasing managers’ index rose to a 66-month high of 56.7 this month from 54.1 in January. Economists had forecast an uptick to 53.8. The manufacturing PMI fell to 52.3, compared to expectations for 53.5 and from 53.6 a month earlier.

More in this category: « RBA more optimistic, February Minutes show U.K. Public Sector Net Borrowing -9.82B vs. -14.00B forecast »

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